CASH & CARRY ON
Thousands of free ATMs to stay open
THOUSANDS of free-to-use cash machines have been saved from extinction.
A sharp fall in ATM use during the coronavirus crisis has left 5,000 independent cash machines at risk of being shut down.
But banks have pledged to protect access to cash in all 6,500 high streets and in 3,800 deprived communities until next year.
Many people have stopped using cash due to unconfirmed fears it could spread the virus. Some shops are refusing cash payments.
This had led ATM withdrawals across the UK almost halving from £2billion in the first week in March to £1bn in the first week of April. This reduced use was putting a strain on free machines and some quieter ATMs risked closure without the new help.
Cash is still vital for the whole of the UK and especially for the 18 million people who rely on it, many of whom are vulnerable and living in deprived or rural areas.
Link, the main ATM network, has agreed with Barclays, NatWest, Sainsbury’s Bank and rival operator PayPoint to commit to keeping free machines across the UK. This follows Notemachine, the independent ATM operator, saying it might start charging for 5,000 of its free machines.
John Howells, chief executive at Link, said: “This guarantees access to cash for all consumers through challenging times.”
The pledge will be in place for one year and will be reassessed annually.
Natalie Ceeney, of the Access to Cash review, said: “The review warned that the UK is not ready to go cashless.
“The current health crisis shows how fragile the cash network is.
“This is a positive step by the industry to protect cash access for millions.”